Question

Which is the best advice a housing counselor can provide to this client who missed a few mortgage payments, if she wants to refinance at a lower rate to

avoid missing additional payments?

A- Discuss alternatives as refinancing is not likely to be approved
B- Discourage refinancing as it cannot help a client avoid foreclosure
C- Encourage her to refinance the mortgage with her current lender
D- Encourage her to refinance the mortgage with a different lender

Answer 1

The best advice a housing counselor can provide to a client who missed a few mortgage payments and wants to refinance at a lower rate is to encourage her to refinance the mortgage with her current lender.

Step-by-step explanation:

The best advice a housing counselor can provide to a client who missed a few mortgage payments and wants to refinance at a lower rate to avoid missing additional payments is to encourage her to refinance the mortgage with her current lender. By refinancing with the current lender, the client may be able to negotiate more favorable terms since the lender already has a relationship with the client and is aware of her payment history. This could help her secure a lower interest rate and make her mortgage more manageable.